Proficio Capital Partners LLC Invests $812,000 in Qorvo, Inc. (NASDAQ:QRVO)

Proficio Capital Partners LLC acquired a new position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,608 shares of the semiconductor company's stock, valued at approximately $812,000.

Other large investors also recently modified their holdings of the company. Atria Investments Inc grew its position in shares of Qorvo by 12.8% in the third quarter. Atria Investments Inc now owns 2,584 shares of the semiconductor company's stock valued at $267,000 after purchasing an additional 293 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Qorvo in the third quarter valued at approximately $234,000. Empowered Funds LLC grew its stake in Qorvo by 33.3% in the 3rd quarter. Empowered Funds LLC now owns 11,387 shares of the semiconductor company's stock worth $1,176,000 after buying an additional 2,843 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Qorvo by 3.6% in the 3rd quarter. Natixis Advisors LLC now owns 66,128 shares of the semiconductor company's stock worth $6,831,000 after buying an additional 2,319 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Qorvo in the third quarter valued at $244,000. Hedge funds and other institutional investors own 88.57% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of Qorvo from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $90.00 to $106.00 in a report on Tuesday, January 21st. Stifel Nicolaus dropped their target price on Qorvo from $95.00 to $90.00 and set a "hold" rating for the company in a report on Wednesday, January 29th. Mizuho lifted their price target on Qorvo from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. StockNews.com raised Qorvo from a "hold" rating to a "buy" rating in a research note on Wednesday, January 29th. Finally, Citigroup cut their target price on shares of Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $95.84.

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Qorvo Stock Down 0.8 %

Qorvo stock traded down $0.63 during trading hours on Wednesday, hitting $75.00. 1,572,108 shares of the stock traded hands, compared to its average volume of 1,915,889. The company has a market cap of $7.00 billion, a PE ratio of 267.86, a PEG ratio of 15.57 and a beta of 1.48. The firm's 50-day moving average price is $77.22 and its two-hundred day moving average price is $80.98. Qorvo, Inc. has a one year low of $64.54 and a one year high of $130.99. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46.

About Qorvo

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.